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Friday, July 1, 2022

Stanbic IBTC Revises International Spending Limit on Naira Cards Down to $500

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Stanbic IBTC Bank a Tier-2 lender has revised downwards how much its customers can spend on its International Naira Mastercard by 50% to $500.

In a mail to customers seen by MoneyCentral, Stanbic said :

“This is to inform you that the monthly spend limit for International transactions on your Stanbic IBTC Naira MasterCard, will be revised from $1,000 monthly to $500 monthly with effect from 20th July, 2020,. Daily cash withdrawal limit of $100 remains. Should you have any enquiries on this, please contact your relationship manager, or send an email to our Customer Contact Center through”

Nigerian Banks have been struggling to meet dollar demand from customers amid a slide in crude oil prices and demand management of dollars by the Central Bank of Nigeria (CBN).

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